Head New Product Development Job Description Template
As the Head of New Product Development, you will oversee the entire product development lifecycle from ideation to market launch. You will work cross-functionally with marketing, engineering, and sales teams to ensure products meet market needs and company goals.
Responsibilities
- Lead and manage the New Product Development (NPD) team.
- Develop product strategies and roadmaps.
- Identify market trends and customer needs.
- Oversee product design, prototyping, and testing.
- Collaborate with marketing, engineering, and sales teams.
- Ensure timely and cost-effective product launches.
- Monitor product performance and refine as necessary.
Qualifications
- Bachelor’s degree in Engineering, Business, or related field.
- 10+ years of experience in product development or related roles.
- Proven track record of successfully launching new products.
- Strong leadership and team management skills.
- Excellent analytical and strategic planning abilities.
- Exceptional communication and interpersonal skills.
Skills
- Project management
- Product Lifecycle Management (PLM)
- Market analysis
- Prototyping
- User Experience (UX) design
- CAD software
- Cross-functional collaboration
- Budgeting
Frequently Asked Questions
The Head of New Product Development is responsible for overseeing the entire product development process, guiding cross-functional teams from concept to launch. Key responsibilities include identifying market opportunities, defining product vision, and coordinating with marketing, design, and engineering teams to ensure that products meet both customer expectations and company goals. They also manage timelines and budgets to drive project success.
Becoming a Head of New Product Development typically requires a blend of advanced education and extensive industry experience. Most candidates hold a bachelor's degree in business, engineering, or a related field, with many also possessing an MBA or similar advanced qualification. Significant experience in product development roles, proven leadership skills, and a deep understanding of market dynamics are crucial. Candidates often progress from product management or senior development roles.
The average salary for a Head of New Product Development varies depending on industry, location, and company size, but commonly reflects the role’s high level of responsibility and expertise. Compensation packages often include base salary, performance bonuses, and stock options. The position generally commands higher compensation due to the strategic impact on company success and the need for significant leadership and market foresight.
Qualifications for a Head of New Product Development role often include a bachelor's degree in product management, business, or engineering, and a master's degree like an MBA is advantageous. Extensive experience in product lifecycle management and strategic planning is essential. Candidates should also demonstrate proficiency in leadership, cross-functional team management, and market analysis. Certifications in project management can further strengthen a candidate’s profile.
Key skills for a Head of New Product Development include strategic thinking, leadership, and excellent communication abilities. They must manage and motivate cross-functional teams, handle project timelines and budgets, and ensure products align with market needs and company objectives. Their responsibilities include conducting market research, defining product strategy, and ensuring cross-departmental collaboration to drive product innovation from concept to commercialization.